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Clovis Oncology (CLVS) Gains But Lags Market: What You Should Know

Zacks Equity Research

Clovis Oncology (CLVS) closed the most recent trading day at $4.50, moving +0.45% from the previous trading session. This change lagged the S&P 500's 0.47% gain on the day. At the same time, the Dow added 0.95%, and the tech-heavy Nasdaq gained 2.3%.

Heading into today, shares of the biopharmaceutical company had lost 57.17% over the past month, lagging the Medical sector's loss of 21.29% and the S&P 500's loss of 28.7% in that time.

Investors will be hoping for strength from CLVS as it approaches its next earnings release. On that day, CLVS is projected to report earnings of -$1.27 per share, which would represent year-over-year growth of 22.09%. Our most recent consensus estimate is calling for quarterly revenue of $42.80 million, up 29.22% from the year-ago period.

CLVS's full-year Zacks Consensus Estimates are calling for earnings of -$4.67 per share and revenue of $197.82 million. These results would represent year-over-year changes of +37.15% and +38.33%, respectively.

It is also important to note the recent changes to analyst estimates for CLVS. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.18% higher. CLVS is holding a Zacks Rank of #3 (Hold) right now.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CLVS in the coming trading sessions, be sure to utilize Zacks.com.


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